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"Artful Dodgers" Skeeve the Great Send a noteboard - 14/04/2011 06:30:58 PM
Are you talking about the banks that had no profits here? Please describe and explain exactly which "loopholes" are keeping banks and corporations from paying taxes they should pay, because although I don't have a problem with having a corporate tax, a lot of the hue and cry I've heard about this often boils down to stupid people (and I'm not accusing you of being one of those) who don't understand how taxes work. The upshot of it is that I ask people exactly what they're talking about here.



There are lot of noise about this issue and you can certainly look it up.

Some examples:
1) ExxonMobil
Campaign Contributions: Total Over 10 Years (2001-2010), $5.7 million
Lobbying Expenditures: Total Over 10 Years (2001-2010), $138 million
Government Contracts: $840 million in 2008; $6.8 billion from 2000-2008
Profits in 2009: $19 billion
Taxes Paid for 2009: $0
Tax Rebate for 2009: $156 million
2)Bank of America
Campaign Contributions: Total Over 10 Years (2001-2010), $11 million
Lobbying Expenditures: Total Over 10 Years (2001-2010), $24 million
Bailout Funds: $20 billion to save itself, $25 billion to buy Merrill Lynch, $118 in loan guarantees
Profits in 2010: $4.4 billion
Tax Refund for 2010: $1.9 billion
3) Citigroup
Campaign Contributions: Total Over 10 Years (2001-2010), $15 million
Lobbying Expenditures: Total Over 10 Years (2001-2010), $62 million
Bailout Funds: $45 billion directly and hundreds of billions more in loan guarantees
Profits in 2010: $4 billion
Taxes Paid for 2010: $0
Tax Refund for 2010: $1.9 billion
4) Goldman Sachs
Campaign Contributions: Total Over 10 Years (2001-2010), $22 million
Lobbying Expenditures: Total Over 10 Years (2001-2010), $21 million
Loans to weather financial crisis: $800 billion
Profits in 2008: $2.3 billion
Taxes Paid in 2008: 1.1 percent of income
5) Boeing
Campaign Contributions: Total Over 10 Years (2001-2010), $10 million
Lobbying Expenditures: Total Over 10 Years (2001-2010), $115 million
Government Contracts: $24 billion in 2008; $169 billion from 2000-2008. Recently received $35 billion contract from Pentagon.
Taxes Paid in 2010: $0
Tax Refund in 2010: $124 million
6) FedEx
Campaign Contributions: Total Over 10 Years (2001-2010), $8.7 million
Lobbying Expenditures: Total Over 10 Years (2001-2010), $71 million
Government Contracts: $64 million in 2008; $7.3 billion from 2000-2008
Recent Profits: $1.9 billion
Recent Taxes Paid: .0005 percent of income, paid in 21 tax havens
7) Verizon
Campaign Contributions: Total Over 10 Years (2001-2010), $12 million
Lobbying Expenditures: Total Over 10 Years (2001-2010), $131 million
Government Contracts: $488 million in 2008; $5.1 billion from 2000-2008
Profits in 2010: $12 billion
Taxes Paid for Last 2 Years: $0
8) General Electric
Campaign Contributions: Total Over 10 Years (2001-2010), $13 million
Lobbying Expenditures: Total Over 10 Years (2001-2010), $205 million
Government Contracts: $3.9 billion in 2008; $24 billion from 2000-2008
Profits Over Last 5 Years: $26 billion
Tax Refund for Last 5 Years: $4.1 billion




Should I go on or you get the picture?
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How can anyone seriously support Obama's budget proposals? Tom - 14/04/2011 02:49:30 PM 1170 Views
I agree with your overall point but I do question one of your facts random thoughts - 14/04/2011 03:25:25 PM 652 Views
Using IRS data for 2008: (most recent year for which data is available) Macharius - 14/04/2011 03:45:20 PM 677 Views
those numbers sem high. What is your source? *NM* random thoughts - 14/04/2011 05:05:26 PM 253 Views
You didn't interpret the spreadsheet correctly. I'm positive of that. Tom - 14/04/2011 06:08:39 PM 541 Views
I'm gonna have to jump on board the wagon with that being a bad figure, got some others Isaac - 14/04/2011 07:33:14 PM 720 Views
Some other income data for historical perspective, again CBO Isaac - 14/04/2011 07:45:13 PM 644 Views
Data: http://www.irs.gov/pub/irs-soi/08in31mt.xls *NM* Macharius - 14/04/2011 08:32:42 PM 270 Views
That's a breakdown of who modifies their returns and how it affects revenue. Tom - 14/04/2011 09:15:21 PM 501 Views
I see. Well, nevermind then. *NM* Macharius - 15/04/2011 01:37:13 PM 258 Views
I believe you are questioning one of my definitions, not one of my facts. Tom - 14/04/2011 04:36:35 PM 591 Views
No matter how you define it I think it would be hard to call the top 5% middle class random thoughts - 14/04/2011 05:03:33 PM 613 Views
A family making $150,000 is not middle class? Tom - 14/04/2011 06:07:07 PM 609 Views
reading what you said again random thoughts - 14/04/2011 06:37:54 PM 566 Views
What a load of crap! Skeeve the Great - 14/04/2011 03:49:29 PM 725 Views
Yes, your response is a load of crap. Tom - 14/04/2011 04:55:20 PM 658 Views
Re: Yes, your response is a load of crap. Skeeve the Great - 14/04/2011 05:13:14 PM 735 Views
This is our first war without a tax increase. Tom - 14/04/2011 06:05:43 PM 650 Views
"Artful Dodgers" Skeeve the Great - 14/04/2011 06:30:58 PM 605 Views
Not giving me the information I need Tom - 14/04/2011 09:33:36 PM 575 Views
Er, check facts Isaac - 14/04/2011 05:04:02 PM 790 Views
Yeah, lets fact check Skeeve the Great - 14/04/2011 05:43:34 PM 634 Views
You understand you're actually supposed to cite data for a fact check right? Isaac - 14/04/2011 06:38:22 PM 797 Views
I'm not sure thats entirely right MalkierKnight - 14/04/2011 05:51:18 PM 871 Views
You basically just said what I said. How am I not right? Tom - 14/04/2011 05:56:08 PM 600 Views
Re: You basically just said what I said. How am I not right? MalkierKnight - 15/04/2011 02:48:07 AM 777 Views
A response Roland00 - 14/04/2011 06:33:49 PM 709 Views
I only have one thing to ask. callandor1000 - 15/04/2011 02:36:07 PM 571 Views
What about the farm subsidies and the military? Vivien - 15/04/2011 04:54:54 PM 587 Views
Re: What about the farm subsidies and the military? Skeeve the Great - 15/04/2011 08:21:16 PM 579 Views
Cutting the military isn't enough Roland00 - 16/04/2011 04:27:11 AM 568 Views
Defense is 60% of the discretionary budget as well, so it's more like 26% overall. Just sayin'. *NM* Ghavrel - 16/04/2011 04:53:30 AM 271 Views
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